We are Independent, Whole of Market  Financial Advisers.  We offer advice in most areas but if we are unable to give the appropriate advice we will endeavour to put you in touch with  a relevant, qualified professional.  We would like to think that no query should be too small nor too big for us!

We are experienced and able to give both Personal Advice to  Individuals and Families. and Corporate Advice to Sole Traders, Limited Companies and Partnerships

Advisers:

Edwin Snapper Dip PFS Bingham, Nottingham, Tel 01949 836173, Mob 07768 505863.pdf

Tony Towers Cert PFS Bingham, Nottingham, Tel 01949 875283, Mob 07748 101530.pdf

Alain Mengoli Cert PFS Bestwood Village, Nottingham, Tel 01158 084175, Mob 07725 134 307 .pdf

Eamonn Watson Cert PFS Coventry, Tel 02476 672941, Mob 07905 671874.pdf

Head Office:

16 Swallow Drive, Bingham, Nottingham, NG13 8QA, Tel/Fax: 01949 836173,  email: info@veracityfp.co.uk
Veracity Financial Planning is a trading style of Edwin Snapper which is authorised and regulated by the Financial Services Authority

What do you want to do when you retire? Many of us want to take a well-earned rest, and do all the things we didn’t have time to do while we were working. The trouble is, many of these things – even the relatively cheap ones – cost money. If you want to enjoy your retirement, instead of spending your time worrying how you are going to pay the heating bills, you need to have money to live on… and a state pension won’t be enough.

You need to review your options now. You may think you’re too young to start thinking about a pension, but the longer you leave it, the more money you have to invest to get a reasonable pension back.

If you rely on the State Pension alone for your old age, unless you make additional contributions to a pension plan you are likely to be living on about £100/week in todays’ terms.

Based on an average of 7% growth to age 65, saving £100/Mth gross without increase and not taking inflation into account:

A 20 year old would have an additional income of approximately £16,800
A 30 year old would have an additional income of approximately £8,830
A 40 year old would have an additional income of approximately £4,500
A 50 year old would have an additional income of approximately £1,900

Obviously therefore, the sooner you make the decision to start taking pension contributions seriously the greater your income in retirement will be.

Reviewing your Pension:

Reviewing your pension is as important as starting a pension, a financial advisor should regularly review your pension plans to ensure that they continue to be appropriately invested in a changing market place.

£10,000 invested for 30 years at 4% avg growth – expected return £32,434
£10,000 invested for 30 years at 8% avg growth – expected return £100,627

There are so many different funds available out there, how do you know whether you are invested in the best funds for your needs, particularly where you have received tied advice and there is no comparison of what is being offered to what is available elsewhere.

So you want to retire…what do you need to do now?

When you want to retire you will need to decide whether to purchase an annuity and whether to purchase your annuity from your own pension provider or whether another provider will offer you a larger income instead of who you built up your fund with (this is your Open Market Option)

Alternatively you may decide to leave your funds invested and take income withdrawals from your fund, the later you purchase your annuity the more the annuity is likely to pay because the older you are the less time the annuity provider expects to have to pay an income from the fund – this may also allow some of the funds to be passed to your dependants on your death in contrast to purchasing an annuity, however the investment risk will stay with you rather than being passed to the annuity provider.

However, certainly under todays’, rules you are likely to have to purchase an annuity before age 75 as the income that can be taken and the capital that can be passed down is severely restricted after age 75.

A financial advisor can explain all of the options available to you, so you can make decisions that you are less likely to regret later.

* Sipps and Commercial Property Purchase are covered under Business Advice below.

Pensions and divorce

You will need to get professional advice about your pension (or your spouse’s pension) when you divorce. A pension is treated as an asset – and pension sharing allows a pension fund to be divided and transferred from one spouse to another as a final settlement achieving a clean break

“The value of your investment can fall as well as rise and you may get back less than you pay in.”

Our
 Advisers

 
Group Pensions, Death In Service, Group Income Protection, Private Medical Insurance, Shareholder Protection, Key Person Insurance,

All businesses need the best advice, most competitive premiums and up to date systems available in the marketplace for all employee benefits.
Business owners need to protect the value built up in their Companies, either to protect the company or to protect their family, often trusts are required.
We have access to the whole of the market and are experienced in advising both small and large businesses and helping to advise on the setting up and ongoing management of company plans.